Bekaert completes turnaround measures

Brussels – Bekaert SA has completed a series of cost-saving measures, amounting to €70 million, in 2018, the company announced 21 Dec.

The moves, said the Belgian company, aimed to “turn around” the profitability of weaker performing businesses and to cease certain operations.

Among the key measures was the closure of the rubber-reinforcement products operation in Figline, Italy, which it acquired from Pirelli in late 2014.

According to Bekaert, the competitive position of the site had been under pressure in recent years, with “significantly higher cost structure” compared…

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